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The catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans is $6,000, In 2017, the total maximum contribution would be $18,000 plus $6,000 catch up = $24,000.

Eligible taxpayers must be at least 18 years of age.
Anyone claimed as a dependent on someone else’s return cannot take the credit.
A student cannot take the credit. A person enrolled as a full-time student during any part of 5 calendar months during the year is considered a student.

The saver’s credit can increase a taxpayer’s refund or reduce the tax owed. Though the maximum saver’s credit is $1,000, $2,000 for married couples
The saver’s credit can be claimed by:Married couples filing jointly with incomes up to $59,000 in 2013 or $60,000 in 2014;
Heads of Household with incomes up to $44,250 in 2013 or $45,000 in 2014; and Married individuals filing separately and singles with incomes up to $29,500 in 2013 or $30,000 in 2014

Individuals can deduct state sales tax in lieu of the deduction for state income taxes, and is particularly valuable for taxpayers who live in states with no income taxes.

For 2013, businesses can deduct up to half the cost of new equipment through a special bonus depreciation deduction, with the rest of the cost depreciated over the useful life of the equipment. Bonus depreciation won't be available for the year 2014, except for long production period property and noncommercial aircraft.

The Work Opportunity tax credit provides an incentive for businesses to hire specific types of employees, such as veterans and recipients of public assistance. Employers can qualify for a tax credit of up to $4,800 for each new disabled veteran hire.

Businesses can expense the entire cost of equipment in the year of purchase under Section 179, rather than spreading out the cost over multiple years using regular depreciation. For 2013, businesses can expense up to $500,000 using Section 179. For 2014, the limit will be $25,000.

Deduction for Mortgage Insurance Premiums - Homeowners can deduct the cost of mortgage insurance premiums as part of their deduction for mortgage interest. However, this deduction expires at the end of 2013.

There are 57 tax provisions set to expire on December 31, 2013, Many taxpayers anticipate that these expiring provisions are going to be retroactively reinstated
Some popular ones that will effect some taxpayers are: Classroom Expenses Deduction for teachers, principals, and other K-12 educators can deduct up to $250 of their job-related expenses as an above-the-line deduction. This deduction expires at the end of 2013. For 2014, educators will be able to deduct their classroom expenses only as part of the employee business expense itemized deduction.

There are 57 tax provisions set to expire on December 31, 2013, Many taxpayers anticipate that these expiring provisions are going to be retroactively reinstated
Some popular ones that will effect some taxpayers are:
Tuition and Fees Deduction - The above-the-line deduction for college tuition expires at the end of 2013. For 2014, both the Lifetime Learning Credit and the American Opportunity Credit will be available for college students.